The 2022 Top 10 Hottest Real Estate Towns in Maine
There aren't enough homes in Maine to go around.
Mainebiz published Maine's Hottest Towns top 10 rankings. The information comes from Maine Life Real Estate in Scarborough. They pick the towns and cities with the biggest jump in single-family home sales. Part of the data includes the average price and days on the market.
The top 10 usually includes the towns with the biggest increase in homes sold compared to the last year. But only a couple of these areas actually went up in home sales. Most went down. That includes Porltand which didn't make the top 10 because homes sold were down almost 30% last year. But the story behind the story is supply and demand. Demand is very high but the supply, as we all know, is just not there. You'll notice this in prices. While sales may have been down, prices weren't. This list looked at towns with the most significant jump in the sales price and where people are willing to pay for their Maine homes.
Up in Knox County Rockland saw the biggest jump in the average price for a home. They were fourth last year and jumped to first with a 40% increase in the median sale price. Went from $225,000 in 2021 to $317,000 in 2022.
Kittery is the town you hit just before you are in New Hampshire. They came in second in 2020 and they are back in second place. Kittery home prices went up 23% from $482,000 to an average price of $594,000.
3. Old Orchard Beach
The tourist destination for every Canadian, Old Orchard Beach has one of Maine's longest and most popular beaches. OOB home sales rose 22.7% with prices of homes selling last year for an average of $445,000 up from $362,500 in 2021.
Gray in Cumberland County is the halfway point between Portland and Lewiston and home to the Sebago Lake region. This is a town that saw an increase in home sales going up 4% with prices up 22.1%. The median sales price in 2022 was $430,000 up from $352,000.
Westbrook is the 'it' city with all the cool stuff like Rock Row and housing prices jumping 20.5%. Prices went from 340,000 in 2021 to $410,000 in 2022.
Of course, people want to live in Kennebunk. It's gorgeous and on the coast with cute little villages. Get ready to shell out over half a million to live here though. The average price of a home went up 20% increase to $570,000 in 2022, up from $474,950 in 2021. And bonus, they have a House of Pizza!
Covid taught us that all of Maine is desirable and Augusta is no exception. Home prices went up almost 19% rise. In 2021, the median price was $200,000, but last year that went up to $237,750.
Waterboro, with Little Ossipee Pond, saw home prices go up 18.7% from $285,000 to $338,450 in 2022. Western Maine is where it's at!
Affectionately nicknamed the Dirty Lew, it's one of the hottest places to scoop up real estate. Home prices from 2021 to 2022 went up by 18%. Stil affordable (compared to Kennebunk) at $260,000 up from the average in 2021 of $220,250.
Waterville just makes the list of hottest real estate towns with a 17.6% increase in the average price of homes from 2021 and 2022. Homes on average will cost you $200,000 up from $170,000 to $200,000. Plus, like Gray, Waterville saw an increase in how many homes were sold going up 2%.
What town will make the list for 2023?